Post Properties Labeled 'Bear of the Day'

Post Properties, an Atlanta-based multifamily real estate investment trust, has been designated the "Bear of the Day" for Aug. 19 by Zacks Equity Research, Chicago. The Bear of the Day is a stock expected to underperform the markets over the next three to six months. Noting that Post is no longer for sale, Zacks said the company will "try to reposition itself" through asset sales and personnel reductions. "Operationally, the company has been underperforming its peer group; management has been focused on a sale of the company," Zacks said. Post had a "weak" second quarter due mainly to impairments on development deals that will not be pursued, and the research firm said it has changed its near-term recommendation on the REIT's stock to Sell. Zacks can be found online at http://www.zacks.com, and the REIT can be found at http://www.postproperties.com.